Thread: Housing Data

Home prices fell for the first time in 3 years last month – and it was the biggest decline since 2011

Home prices declined 0.77% from June to July, the first monthly decline in nearly three years, according to Black Knight, a mortgage software, data and analytics firm.

While the drop may seem small, it is the largest single-month decline in prices since January 2011. It is also the second-worst July performance dating back to 1991.

“Further price corrections are likely on the horizon as we move into what are typically more neutral seasonal months for the housing market,” said a Black Knight executive.

https://www.cnbc.com/2022/08/24/home...ince-2011.html

Originally Posted by tsptalk

Home prices fell for the first time in 3 years last month – and it was the biggest decline since 2011



https://www.cnbc.com/2022/08/24/home...ince-2011.html

Gee, who coulda seen this coming? ( I feel bad for all the folks who bought in the past 2 years before inflation took off on all other consumer goods.

And here we had all the blind bulls just recently telling us this isn't 2008. That doesn't mean housing prices can't go down. I've had two people I work with mention to me in the past month that they overpaid for a house in the past year. At least these two will continue to make payments. What happens when people just start to walk away and demand a bail out?

Now that we're all coming back to earth after this "work from home" scam, there's no need to have the second house in Arizona or Idaho.

Late last month, D.R. Horton said the cancellation rate in its most recent quarter was 24%, up from 17% during the same quarter last year. It was the company’s highest cancellation rate since the first quarter of its fiscal 2019.

https://www.barrons.com/articles/len...et-51660314479

Good point. I really need mortgage forgiveness.


Scott Harrison
Senatobia, MS

Home sales fell for the ninth straight month in October, as higher mortgage rates scared off potential buyers

Home sales declined for the ninth straight month in October.

Sales of previously owned homes dropped 5.9% from September to October, according to the National Association of Realtors.

That is the slowest pace since December 2011, with the exception of a very brief drop at the beginning of the Covid-19 pandemic.

https://www.cnbc.com/2022/11/18/home...n-october.html

Home sales tumbled more than 7% in November, the 10th straight month of declines

Home sales declined 7.7% on a monthly basis in November.

Sales were down 35.4% year over year, marking the tenth straight month of declines.

The median sales price rose 3.5% to $370,700 from a year ago.

https://www.cnbc.com/2022/12/21/home...-november.html

Home prices cool in January, even falling in some cities, S&P Case-Shiller says

Home prices have been falling for seven straight months, but the decline was a bit smaller in January, likely due to a brief drop in mortgage rates.

Prices fell in cities such as Seattle, San Francisco and San Diego.

https://www.cnbc.com/2023/03/28/home...e-shiller.html

Home prices suddenly jump after several months of declines

Home prices suddenly turned higher as mortgage rates slipped.

Prices nationally rose 0.16% in February, when seasonally adjusted, according to Black Knight.

In December and January, mortgage rates began pulling back, and homebuyers surged ahead.

https://www.cnbc.com/2023/04/03/home...-declines.html

Homebuilder sentiment pulls out of negative territory for the first time in nearly a year

Builder confidence in the market for newly built single-family homes rose 5 points to 50 in May, according to the National Association of Home Builders (NAHB)/Wells Fargo Housing Market Index (HMI).

It’s the fifth straight month of gains and the first reading of builder sentiment since July that wasn’t negative.

Of the index’s three components, current sales conditions rose 5 points to 56, sales expectations in the next six months increased 7 points to 57, and buyer traffic climbed 2 points to 33.

https://www.cnbc.com/2023/05/16/home...-may-2023.html

Home sales barely budge from April to May in sluggish spring market

Home sales inched higher in May from April, according to the National Association of Realtors.

High interest rates, inflated prices and tight supply are weighing on the traditionally busy spring market.

Compared to a year earlier, sales fell more than 20%.

https://www.cnbc.com/2023/06/22/home...-flat-may.html

Sounds troubling but the low supply is not enough for demand and it is keeping prices lofty...


June home sales drop to the slowest pace in 14 years as short supply chokes the market

June home sales were 18.9% lower compared with last year. That is the slowest sales pace for June since 2009.

“There are simply not enough homes for sale,” said Lawrence Yun, chief economist for the Realtors.

https://www.cnbc.com/2023/07/20/june...-14-years.html